OH HB297

Establishes a refundable income tax credit equal to 50% of eligible investment costs for livestock owners who invest in manure storage, treatment facilities, or manure application and handling equipment.

Applies to eligible investments made between January 1, 2005, and January 1, 2020, with the credit claimed over five taxable years at one-fifth per year.

Requires taxpayers to have owned livestock in Ohio on the bill's enactment date and continuously throughout the entire taxable year in which the credit is claimed.

Eligible investments must assist compliance with Ohio law (section 1511.10) or federal USDA Natural Resources Conservation Service practice standard code 590 regarding manure management and application.

Taxpayers entitled to excess credit amounts after deducting all other credits may receive a refund of the excess, with the credit claimed last in the state's required credit ordering system.